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Dec 15 (Reuters) – Ford Motor Co ( FN ) raised the price of the cheapest variant of its F-150 Lightning electric truck by 9% to $55,974, the company’s website showed on Thursday.
The automaker has raised prices for its electric pickup trucks twice in three months, as it navigates higher costs and supply chain snags.
Automakers around the world, including Tesla Inc ( TSLA.O ) and Rivian Automotive Inc ( RIVN.O ) are also struggling with higher prices for raw materials such as lithium and have warned that higher costs are here to stay. to stay.
Ford, which has previously said it is targeting annual production of 150,000 Lightning pickups by the fall of 2023, did not immediately respond to a Reuters request for a comment on the price hike.
The company’s shares were down about 3.5% in afternoon trade amid declines in the broader market.
However, it was not immediately clear when the price increase occurred.
The move follows the automaker adding a third work crew at an assembly plant near Detroit as it ramps up production of its F-150 trucks.
Reporting by Nathan Gomes in Bengaluru; Editing by Shinjini Ganguli
Our Standards: The Thomson Reuters Trust Principles.
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